Ripple’s XRP managed to increase by a whopping 10% in the past 24 hours, pushing past the important $0.5 resistance and also leading the recovery of the broader altcoin sector.
As CryptoPotato reported earlier, the entire industry is seeing an uptick, with Bitcoin’s price also increasing toward $59K.
But why did XRP’s price suddenly shoot up? Let’s explore some of the possible reasons.
Volatility Was Due to XRP’s Price
Earlier in July, we reported that a historic pattern was forming on the Ripple chart, suggesting a volatile move was brewing.
The pattern in question included the Bollinger Bands indicator – a technical tool used by analysts to gauge volatility.
Back then, the bands were squeezed to levels not seen in many years. In fact, an X user observed that:
XRP has one of the tightest monthly Bollinger Band squeezes in its history and in all of crypto right now. The last time it squeezed like that, it shot up 60,000%.
Naturally, the move didn’t comprise a 60,000% i
We współpracy z: https://cryptopotato.com/the-possible-reasons-ripple-xrp-exploded-by-10-today/
